Abstract
This article reviews the economic position of Germany in an era of increased internationalisation of economic activity. Since unification there have been worrying trends in the German economy: in particular, high unemployment, increasing government debt and a substantial increase in the overseas activities of Germany's major companies. However, this article argues that the micro‐economy in general, and the institutional structures inherent to the social market economy of post‐war Germany in particular, are strong. Indeed, only by understanding the historical interrelationships between the individual structures of the German social market economy is it possible to appreciate the continued strength of the German economy.
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